ARA Hospitality - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/07/21	DBS Vickers	ARA Hospitality	0.485	0.69	Buy	DCF
03/23/21	DBS Vickers	ARA Hospitality	0.555	0.69	Buy
07/09/21	DBS Vickers	ARA Hospitality	0.555	0.79	Buy	DCF
08/20/21	DBS Vickers	ARA Hospitality	0.495	0.75	Buy	DCF

Stock calls for 25 November 2021

Date	Analyst	Company	Last	Target	Call	Valuation
11/25/21	DBS Vickers	AEM	4.95	6.04	Buy	PER15x FY22
11/25/21	DBS Vickers	CSE Global	0.5	0.6	Buy	PER11.5x FY22
11/25/21	Lim & Tan	Jumbo	0.3	0	Hold
11/25/21	CIMB	Mapletree North Asia	1.05	1.13	Add	DDM
11/25/21	Macquarie	SGX	9.29	12.8	Outperform	DDM
11/25/21	UOB Kay Hian	SGX	9.29	9.41	Hold	PER23.8x FY22

The USD has been trending up. Why?

We had stated as early as Feb 2021 that the USD would be trending up because of impacts from China's credit impulse and we had been proven right again.

http://sg-stock.blogspot.com/2021/02/chinas-monetary-tightening-will-impact.html

As projected, the USD had been trending up recently.  We had explained previously that the USD trajectory would lag the credit impulse.

http://sg-stock.blogspot.com/2021/06/why-is-there-discrepancy-in.html

Asian Pay TV (APTV) - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/05/21	Phillip	APTV	0.118	0.15	Buy
03/08/21	Phillip	APTV	0.107	0.15	Buy	EV/Ebitda9x FY21
08/16/21	Phillip	APTV	0.131	0.15	Buy	EV/Ebitda9x FY21
11/16/21	Phillip	APTV	0.138	0.15	Accumulate	EV/Ebitda9x FY21

APAC Realty - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
02/24/21	DMG & Partners	APAC Realty	0.425	0.55	Buy	DCF
02/25/21	DBS Vickers	APAC Realty	0.44	0.61	Buy	PER11.4x FY21
02/25/21	CIMB	APAC Realty	0.44	0.675	Add	DCF
04/22/21	DBS Vickers	APAC Realty	0.51	0.61	Buy
05/14/21	CIMB	APAC Realty	0.49	0.865	Add
05/14/21	DBS Vickers	APAC Realty	0.49	0.74	Buy	PER10x FY21
05/14/21	DMG & Partners	APAC Realty	0.49	0.7	Buy
08/13/21	DBS Vickers	APAC Realty	0.815	1.05	Buy	PER14x FY21
08/13/21	CIMB	APAC Realty	0.815	0.94	Add
08/16/21	CIMB	APAC Realty	0.89	0.96	Add
08/18/21	DMG & Partners	APAC Realty	0.93	0.88	Neutral	PER13x
10/07/21	DBS Vickers	APAC Realty	0.76	1.05	Buy
11/15/21	DBS Vickers	APAC Realty	0.835	0.88	Hold	PER10x
11/16/21	CIMB	APAC Realty	0.835	0.996	Add
11/17/21	DMG & Partners	APAC Realty	0.81	0.9	Neutral

Aoxin Q&M - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
11/19/21	UOB Kay Hian	Aoxin Q&M	0.27	0.37	Buy	PER16x FY22

Stock calls for 24 November 2021

Date	Analyst	Company	Last	Target	Call	Valuation
11/24/21	UOB Kay Hian	A-Reit	3.04	3.83	Buy
11/24/21	UOB Kay Hian	City Developments	7.06	8.5	Buy	RNAV (40% discount)
11/24/21	DMG & Partners	HRnetGroup	0.82	0.93	Buy
11/24/21	UOB Kay Hian	Mapletree Logistics	1.95	2.08	Hold	DDM
11/24/21	Kim Eng	Mapletree Logistics	1.95	2.35	Buy	DDM
11/24/21	Lim & Tan	SATS	4.1	4.81	Buy

Amara - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
08/11/21	Lim & Tan	Amara	0.37	0	Accumulate